By Onilede Titi Faith
The Federal Government has reaffirmed its commitment to maintaining and expanding investment-friendly policies in Nigeria’s oil and gas sector, introducing fresh measures to unlock idle assets and drive sustainable production growth.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the assurance during a visit to the NNPC/Chevron Nigeria Limited Joint Venture’s Escravos Gas-to-Liquids (EGTL), plant in Delta State.
During the inspection, Lokpobiri said the government aims to create a globally competitive business environment where investors can thrive and expand.
He urged operators to scale up activities, emphasizing that long-term growth in production requires consistent and substantial investments.
He highlighted that oil blocks left undeveloped for decades should be farmed out to willing partners rather than remain dormant.
The administration plans to fully develop all available resources and is ready to invoke the “drill or drop” clause in the Petroleum Industry Act to achieve this.
The minister also commended the NNPC/CNL JV for maintaining high operational standards and encouraged other companies to adopt similar practices.
He added that the government will continue offering attractive incentives to draw capital from around the world, ensuring Nigeria remains a prime destination for energy investments.
